DJIA
Last loading.. Chg. loading..
FTSE
Last loading.. Chg. loading..
NDXI
Last loading.. Chg. loading..
POPULAR NEWS
Gold Ticks Up on Concerns Over Increase in Virus Cases

Gold climbed as investors sought haven assets amid the rise in coronavirus cases, with the World Health Organization reporting a one-day high in global infections over the weekend. U.S. virus cases increased 2%, more than the seven-day average, according to an updated Johns Hopkins University count, while global cases topped 11.3 million. Mexico overtook France with the fifth-deadliest outbreak. Spot gold +0.2% to $1,776.01/oz at 8:10am in Singapore. Last week,...

Tokyo Shares Open The Week on Positive Note

Tokyo shares opened higher Monday while investors monitored with caution a continued rebound of global coronavirus infections. The benchmark Nikkei 225 index rose 25.74 points or 0.12 percent to 22,332.22, while the broader Topix index added 2.94 points or 0.19 percent to 1,555.27. Source : AFP

Oil Stuck Near $43 With Market Weighing Supply Against Virus

Oil in London was anchored near $43 a barrel as investors weighed tightening crude supplies and robust U.S. economic data against surging coronavirus infections. Libya™s oil exports are expected to slide this month as forces opposed to the government continue to block shipments, adding to coordinated OPEC+ cuts, while data last week showed the American labor market rebounded in June. However, a surge in U.S. virus cases has pushed global infections above 11.3...

Dollar in Tight Range Ahead of U.S. Services Sector Data

The dollar held steady against most currencies on Monday as investors awaited data expected to show the U.S. services sector stopped contracting, and highlighting the economic recovery from the coronavirus pandemic. The euro moved in a narrow range before economic data from Germany and the eurozone that are also forecast to show a sharp rebound in corporate activity and retail sales, which would ease concerns about the economic outlook. A steady rise of new coronavirus infections in the...

Gold Ticks Up on Concerns Over Increase in Virus Cases

Gold climbed as investors sought haven assets amid the rise in coronavirus cases, with the World Health Organization reporting a one-day high in global infections over the weekend. U.S. virus cases increased 2%, more than the seven-day average, according to an updated Johns Hopkins University count, while global cases topped 11.4 million. Mexico overtook France with the fifth-deadliest outbreak, while India™s coronavirus epidemic became the third...

Wall Street neutral on gold price, Main Street optimism hits 3-month low
Monday, 30 September 2019 15:22 WIB | GOLD CORNER |Gold OutlookGold Corner

The sidelines in the gold market are getting a little crowded with Wall Street analysts projecting range-bound trading despite rising volatility in the near-term.

Meanwhile, Main Street investors remain bullish on gold this week even as sentiment drops to a three-month low, according to the latest Kitco News Weekly Gold Survey.

A majority of analysts are turning neutral on the yellow metal after prices broke below their 50-day moving average and continued strength in the U.S. dollar weighs on the yellow metal in the near-term.

Last week, 16 market professionals took part in the Wall Street survey. A total of 8 voters or 50% called for gold to trade sideways this week. Meanwhile, 5 analysts or 31% said that they see higher prices in the near-term. Three analysts or 19% saw lower prices this week.

Meanwhile, 855 respondents took part in an online Main Street poll. Looking at the results, a total of 479 voters, or 56%, called for gold to rise. Another 222, or 26%, predicted gold would fall. The remaining 154 voters, or 18%, saw a sideways market.

Although a clear majority of retail investors remain bullish on gold in the near-term, sentiment is at its lowest level since mid-June and has fallen for the last four consecutive weeks.

In the last survey, Main Street and Wall Street were both bullish on prices for the week now winding down. As Friday 12:02 p.m. EDT, Comex December gold futures were trading at $1,501.80 an ounce down roughly 1% from the previous week.

Wall Street and Main Street both have an 18-16 winning record for the year to date, meaning respondents have been right 53% of the time.

Although some gold analysts have turned more cautious, they are not ready to give up on the yellow metal™s long-term rally.

Ole Hansen said that he expects gold prices to head lower this week but described the price action as œa weak correction in a strong uptrend.

œI think the uptrend remains I place but we need to see it bounce from a lower price, he said.

Hansen added that he would not be surprised to see gold prices test support at $1,450 in the near-term.

George Gero, managing director with RBC Wealth Management said that he sees potential for bargain hunting to support prices this week; however, he added that a strong U.S. dollar continues to be a major headwind for gold and that might not change anytime soon.

œThe world needs a safe haven and right now that is the U.S. dollar, he said. œBut because bond yields are so low it wouldn't take much for investors to once again see gold as the ultimate safe-haven.

Charlie Nedoss, senior market strategist with LaSalle Futures Group, described the price action as just a flushing out of weak hands in the marketplace.

He added that with gold price below their 50-day moving average his next target is support at $1,470 an ounce.

Kevin Grady, president of Phoenix Futures and Options, said that after the rally this summer, it is now time for gold prices to test support.

Although there is more risks to the downside in the near-term as volatility picks up, Grady said that he remains neutral on gold as prices ultimately continue to consolidate.

œI see any drop in the price as a healthy correction, he said. œThe best way to see if a market is strong is to sell it.

Although gold prices are ending last week down 1%, some analysts remain bullish in the near-term as uncertainty continues to dominate the marketplace.

œThere are too many issues on the world stage that are supportive of gold, from Brexit to impeachment, trade disputes and easy money, said Adrian Day, chairman and chief executive officer of Adrian Day Asset Management.

Source: Kitco News

RELATED NEWS
Gold price bull rally: the drive is alive...
Monday, 6 July 2020 13:40 WIB

Gold achieved an important milestone this past week as priced pushed above $1,800 an ounce for the first time since 2011 and with strong fundamentals and what appears to be an unstoppable uptrend, ret...

Emas dan Saham Telah Berdamai...
Friday, 3 July 2020 14:53 WIB

Untuk pertama kalinya tren indeks berjangka emas tidak terpengaruh oleh sentimen pasar saham selama masa pandemi COVID-19. Di sisi lain, emas saat ini cenderung dipengaruhi oleh tingkat imbal hasil r...

Towards the end of July 2020, Prepare a Buy Option for Gold Futures...
Thursday, 2 July 2020 15:00 WIB

Initial trials of the COVID-19 vaccine developed by Pfizer Inc. and BioNtech SE have shown positive results, which are safe and enable patients to produce antibodies to the virus. This good news affec...

July, Gold is Still Promising...
Wednesday, 1 July 2020 16:41 WIB

Index futures closed above $ 1,800 per ounce on Tuesday, June 30, 2020, which also means closing in the first half of this year. Over the past six months gold has become the most active futures contra...

Wall St., Main St. Look for Gold Prices to Keep Shining...
Monday, 29 June 2020 13:42 WIB

Gold prices should maintain maintain their recent upward momentum as the COVID-19 pandemic keeps spreading and prompting worries about the economy, according to respondents in the weekly Kitco News go...

POPULAR NEWS
Gold Ticks Up on Concerns Over Increase in Virus Cases

Gold climbed as investors sought haven assets amid the rise in coronavirus cases, with the World Health Organization reporting a one-day high in global infections over the weekend. U.S. virus cases increased 2%, more than the seven-day average, according to an updated Johns Hopkins University count, while global cases topped 11.3 million. Mexico overtook France with the fifth-deadliest outbreak. Spot gold +0.2% to $1,776.01/oz at 8:10am in Singapore. Last week,...

Tokyo Shares Open The Week on Positive Note

Tokyo shares opened higher Monday while investors monitored with caution a continued rebound of global coronavirus infections. The benchmark Nikkei 225 index rose 25.74 points or 0.12 percent to 22,332.22, while the broader Topix index added 2.94 points or 0.19 percent to 1,555.27. Source : AFP

Oil Stuck Near $43 With Market Weighing Supply Against Virus

Oil in London was anchored near $43 a barrel as investors weighed tightening crude supplies and robust U.S. economic data against surging coronavirus infections. Libya™s oil exports are expected to slide this month as forces opposed to the government continue to block shipments, adding to coordinated OPEC+ cuts, while data last week showed the American labor market rebounded in June. However, a surge in U.S. virus cases has pushed global infections above 11.3...

Dollar in Tight Range Ahead of U.S. Services Sector Data

The dollar held steady against most currencies on Monday as investors awaited data expected to show the U.S. services sector stopped contracting, and highlighting the economic recovery from the coronavirus pandemic. The euro moved in a narrow range before economic data from Germany and the eurozone that are also forecast to show a sharp rebound in corporate activity and retail sales, which would ease concerns about the economic outlook. A steady rise of new coronavirus infections in the...

Gold Ticks Up on Concerns Over Increase in Virus Cases

Gold climbed as investors sought haven assets amid the rise in coronavirus cases, with the World Health Organization reporting a one-day high in global infections over the weekend. U.S. virus cases increased 2%, more than the seven-day average, according to an updated Johns Hopkins University count, while global cases topped 11.4 million. Mexico overtook France with the fifth-deadliest outbreak, while India™s coronavirus epidemic became the third...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.